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In a period of unprecedented digital transformation across industrial sectors, ASETS-CA Inc, a pioneering force in rule-based web technologies for 3D CAD, simulation, and multidisciplinary engineering design automation, today announced the successful close of its Pre-Series A funding round. This critical investment was led by a global consortium of VC investors led by Accel and quantumEDGE, with strategic backing from Deepak Group - identified as the world's largest single-site producer of phenol and acetone.
This funding reinforces ASETS-CA's mission to disrupt traditional engineering workflows with its innovative AI-native platforms. The company is poised to digitize, automate, and optimize complex design processes, addressing the urgent industry need for greater efficiency and intelligence in asset management.
As industries globally race to adopt advanced digital solutions, ASETS-CA is meeting this demand head-on by accelerating the deployment of its flagship product, IDS (Integrated Design Suite). This suite includes IDS-UFC (Scans to BIM) and IDSC - a domain-specific AI engine that automatically generates intelligent 3D CAD models from engineering documents.
"This milestone is more than just capital - it's a strong validation of our belief that the future of engineering lies in intelligent, automated, and adaptive workflows, especially as industries seek to rapidly digitize and optimize operations," said Ashwini Oke, CEO & Founder, and Menachem Tabanpour, Director of ASETS-CA.
Meghav Mehta, CEO of Deepak Chemtech, commented, "Modernizing engineering is critical to unlocking the next wave of growth in India's manufacturing sector. Our strategic investment in ASETS-CA is a direct step towards supporting and adopting emergent AI technologies that enhance design intelligence and make Indian manufacturing globally competitive."
Advancing Engineering with AI, ASETS-CA's proprietary AI pipeline leverages vision-language models and spatial graph AI to convert legacy engineering documents into structured data. Pilots have shown remarkable results, including up to an 85% reduction in manual data extraction time and significant gains in design coordination and accuracy. The platform also boasts seamless integration and a cloud-first workflow for automated 3D-to-2D conversion, ensuring compatibility with legacy systems and readiness for new applications.
The fresh capital will be strategically deployed to scale the IDS platform, hire top-tier AI and engineering talent, and expand go-to-market efforts and partnerships. This will enable IDS 2.0 to offer comprehensive interoperability with industry-standard software such as E3D, Revit, STAAD, and CAESAR II, meeting the growing demand for interconnected and intelligent engineering solutions.
For more details on the funding round, please refer to the announcements on Entrevestor and Silicon Luxembourg.
ASETS-CA Inc. is a technology-driven engineering software company specializing in cloud-based solutions for early-stage engineering. The company develops tools designed to enable engineers, designers, and construction professionals to accelerate complex workflows, reduce costs, and improve project efficiency.
Deepak Group is a major Indian chemical intermediates company, founded in 1970. It is a leading producer of industrial chemicals, including phenol and acetone, and provides chemical solutions for various industries such as pharmaceuticals, agrochemicals, dyes, and detergents. The company, through its main entities like Deepak Nitrite Limited and Deepak Phenolics Limited, operates manufacturing facilities and exports its products globally.
quantumEDGE Ventures is a deeptech venture capital fund investing globally in solutions in the Water-Food-Energy nexus. The fund follows an Operator VC model to bridge unique challenges of the MENA region with groundbreaking innovation, supporting companies that are solving stubborn, systemic problems to embark on an accelerated growth path.